On 22 October 2024, the Thai Cabinet approved the signing of a draft letter of commitment for Thailand to join the Multilateral Competent Authority Agreement on Automatic Exchange of Information pursuant to the Crypto-Asset Reporting Framework (CARF MCAA).
Through the letter of commitment, Thailand indicates it will prepare for implementation of the relevant domestic laws and procedures and intends to begin exchanging information under the CARF MCAA by 2028.
The CARF is an important component of the International Standards for Automatic Exchange of Information in Tax Matters, published by the OECD on 8 June 2023, which also includes amendments to the Common Reporting Standard.
Source: IBFD Tax Research Platform News